ERP Implementation (Oracle)

ERP Implementation(Oracle)

What Is ERP?

What is ERP System? (Enterprise Resource Planning)

Enterprise resource planning refers to the systems and software packages utilized by companies of all sizes to govern day-to-day business operations, such as accounting, procurement, project management, and manufacturing.

What is ERP System?

ERP systems encompass and define a plethora of business activities and allow the flow of information between them. By gathering an organization’s collective transactional data from multiple sources, ERP systems remove data duplication and supply data integrity with a “single source of truth.”

Today, ERP systems are crucial to maintain small, medium and enterprise businesses including all industries.

ERP Fundamentals

ERP systems are created around a common, defined data construction (schema) that often has a common database. ERP systems supply access to enterprise data from numerous activities using common structures, definitions and common user experiences.

A key ERP concept is the central gathering of information for wide distribution. Instead of multiple standalone databases with an endless collection of disconnected spreadsheets, ERP systems bring direction to the chaos so that all users—from the Managing Director to office clerks—design, store, and utilize the same data sourced through common activities. With a stable and centralized data repository, everyone all employees can be rest assured that data is accurate, up to date, and finalized. Data integrity is secured for every activity performed throughout the company, from a quarterly financial report to a single outstanding receivables statement, without deploying fault-prone spreadsheets.

The Business Value of ERP

It’s impossible to not consider the effect of ERP in today’s business world. As enterprise information and constructs are corralled into ERP systems, companies are able to align separate departments and enhance workflow, resulting in notable bottom-line savings. Examples of specific business benefits include:

  • Enhanced business insight
  • From real-time data provided by reports
  • Decreased operational costs
  • Through defined and more streamlined business processes
  • Increased collaboration
  • From users sharing data in contracts, requisitions, and purchase orders
  • Increased efficiency
  • Through a common user experience across many business functions and managed business processes
  • Consistent infrastructure
  • In all departments, all business activities have the same look and feel
  • Increased user-adoption rates
  • From a common user experience and design
  • Decreased risk
  • Through improved data integrity and financial controls
  • Decreased management and operational costs
  • Through structured and integrated systems
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